
RBC sees sluggish start to Canada's spring housing market
Canada’s largest bank is expecting a slow start to the spring housing market as higher interest rates keep many buyers out, despite a drop in prices.
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Canada’s largest bank is expecting a slow start to the spring housing market as higher interest rates keep many buyers out, despite a drop in prices.
The Irish government moved to reassure US multinationals that the country can address its chronic housing shortage, after American firms identified it as the biggest obstacle to further investment in the country.
Amid widespread affordability concerns in Canada’s housing market, the Canada Mortgage and Housing Corporation (CMHC) announced a series of amendments to its foreign buyer ban.
Everything is looking down for Europe’s worst-hit sector: Real estate.
US pending home sales unexpectedly rose in February for a third month, adding to signs that the housing market may be stabilizing after a tumultuous year.
Jun 6, 2019
Bloomberg News
,Here’s one consequence of the slowing U.S. housing market: Home flippers are heading for the exits.
Homes that were resold within 12 months after being purchased made up 7.2 per cent of all transactions in the first quarter, the biggest share since the start of 2010, Attom Data Solutions reported Thursday. Meanwhile, the average return on investment, not including renovations and other expenses, dropped to 39 per cent, an almost eight-year low.
Speculators are on the housing market’s front lines, where softening price growth, waning demand and longer times to sell can turn quickly into shrinking profits, or even losses. Purchases of previously owned homes fell 4.4 per cent in April, the 14th straight year-over-year decline, according to the National Association of Realtors.
“Investors may be getting out while the getting is good,” Todd Teta, chief product officer at Attom Data Solutions, said in the report. “If investors are seeing profit margins drop, they may be acting now and selling before price increases drop even more.”